Futures linked to the DOW JONES index fell 0.27% to 46,789.10 points, while those of the S&P 500 fell 0.40%, to 6,693.30 points. NASDAQ 100 futures fell 0.59% to 24,982.90 points.
Wall Street is coming off a downward day yesterday, Thursday: The most penalized was the technology Nasdaq, which fell 1.9%, while the Nasdaq fell 1.12% and the Dow fell almost 400 points, or 0.84%.
All three big indexes are in the red this week, with losses accumulating on and off since Tuesday: The S&P 500 is down 1.8% through Thursday’s close, while the Dow and Nasdaq have lost nearly 1.4% and 2.8% over the same period, respectively.
Much of the punishment is due to the drag of technological stocks linked to artificial intelligence, with companies such as NVIDIA, Microsoft or Advanced Micro Devices, dragging down the market in general due to investor concerns about the high valuations of the technology sector.
Wall Street’s slide was further compounded yesterday by data showing that job cuts in October hit the highest level for that month in more than two decades, making 2025 in the worst year for layoffs since 2009. The Bureau of Labor Statistics is expected to release the October nonfarm payrolls report this Friday. However, for the second month in a row, he is unable to do so due to the government shutdown. Economists surveyed by Dow Jones expected the report to show a decline of 60,000 jobs and an increase in the unemployment rate to 4.5%.
Investors are also closely monitoring the skepticism that the Supreme Court has shown about the legality of President Donald Trump’s tariffs, which may end up opening a new front of uncertainty.
However, some analysts remain hopeful that the end of the prolonged US government shutdown and a possible interest rate cut in December by the Federal Reserve could ease the slide in US stocks.
«There is still hope for a rebound at the end of the year once the government shutdown ends and the tariff situation is resolved. NVIDIA’s crucial results are two weeks away, and a strong performance in this area could be the catalyst that reaffirms the outlook for artificial intelligence. If this is followed by a Fed cut in December, we could close the year on an upward trend,» he assures the CNBC Louis Navellier, founder and director of inversions of Navellier & Associates. “Corrections with these profit levels are normal and predictable; “There is no reason to be alarmed.”
The truth is that the third quarter earnings season, which is now entering its final stage, is going better than expected. According to calculations by Bankinter analysts, with 424 S&P 500 companies having already published their reports, the average increase in earnings per share is 16.9%, compared to the 8.5% expected before the publication of the first company. The qualitative balance is as follows: 83% exceed expectations, 4% are in line and the remaining 13% disappoint. In the last quarter (2Q 2025) earnings per share increased by 13.3%, compared to the expected 5.8%.
Today Airbnb shares rise almost 5% after the publication of solid third quarter results and fourth quarter forecasts. Airbnb earned $2.21 per share on revenue of $4.1 billion, while analysts had expected $2.34 per share on revenue of $4.08 billion. For the fourth quarter, Airbnb forecasts revenue of between $2.66 billion and $2.72 billion, exceeding the $2.67 billion expected by analysts.
Affirm soars 12% after the company beat expectations on both revenue and profits, with results showing quarterly gross merchandise volume exceeding market forecasts. The fintech company earned earnings of 23 cents per share in the fiscal first quarter and reported revenue of $933 million. Analysts had expected a profit of 11 cents per share and revenue of $883 million.
Shares of fintech Block fall 14.5% as investors worry about weak profit growth compared to volume growth at its payments unit, Square.
Gross payments volume for Square, which offers payment solutions to small and medium-sized businesses, grew 12% in the third quarter from a year ago, reaching levels not seen in more than two years. However, gross profit growth slowed to 9.22% in the quarter ended Sept. 30, fueling investor concerns about how to balance profitability with scale.
Fitness machine company Peloton rises 4% after surprising the market with profits in its fiscal first quarter. Peloton earned 3 cents per share on revenue of $550.8 million. Analysts had expected the company to break even on its results, while its revenue stood at $540.7 million.
Outside of the results, Take-Two Interactive Software records drops of 7% after its subsidiary Rockstar Games has announced a new delay in the launch of Grand Theft Auto VIwhich will go from May 2026 to November 2026. This announcement marks the second delay for the long-awaited game.
Another of the big names of the day is Tesla, after yesterday finally Shareholders to vote in favor of CEO Elon Musk’s nearly $1 trillion compensation planwith 75% support among shareholders with voting rights. The compensation package consists of 12 tranches of shares that will be awarded if Tesla reaches certain milestones over the next decade. This would also give the tycoon greater voting power in the company, as his stake would increase from approximately 13% to 25%, adding more than 423 million shares to his portfolio.
A separate proposal to investors on the board contemplated that Tesla could invest in xAI, Musk’s artificial intelligence startup created to compete with OpenAI. Tesla indicated that there were more votes in favor than against, but the results are still inconclusive.
In commodity markets, oil prices rise this Friday but are headed for their second consecutive week of losses, as markets assess concerns about oversupply and slowing demand. West Texas oil futures rose 0.96% to 60.00 euros, while international benchmark Brent crude was paid at 63.99, up 0.96%.
To take into account today also that Bitcoin has fallen below the critical support of $100,000. According to data from Coinmarket.com, it falls 3.02% in the last 24 hours to stand at $99,747. The popular cryptocurrency is moving away from the all-time highs around $126,000 at the beginning of October amid the general decline in the digital asset market.
The euro rose 0.07% against the dollar, leaving the exchange rate at 1.1555 dollars for each single currency.